Matt Lauer will not get payout from NBC News, report says

Although Matt Lauer was paid $20 million annually to co-host the "Today" show, NBC does not intend to payout the remainder of his contract after his firing.

Lauer "will not be paid past his last day of work," a senior NBC source told CNNMoney on Friday. (Lauer last appeared on the program on Tuesday.)

His contract was believed to expire in late 2018. However, the New York Post indicated that it was extended through the first half of 2019, leading it to report that Lauer's lawyers will likely seek a $30 million pay out.

The senior NBC News source did not dispute that Lauer's lawyers might seek a payout, but the source said the network will not submit.

Television news contracts typically include a morals clause, giving a network some flexibility to fire a high-priced anchor for cause.

Lauer's dismissal on Wednesday was attributed to an incident at the 2014 Winter Olympics. However, NBC was reportedly aware that two media outlets were ready to publish articles exposing allegations of sexual misconduct by the longtime "Today" show co-host.

Hours after NBC News announced Lauer's firing, Variety reported Lauer had exposed himself to an NBC employee and gave another colleague a sex toy with an explicit note about how he wanted to use it on her.

NBC confirmed on Thursday morning that two women have come forward following the initial complaint it had received on Monday.

"Some of what has been said about me is untrue or mischaracterized, but there is enough truth in these stories to make me embarrassed and ashamed," he stated. "I regret that my shame is now shared by the people I cherish dearly."

Lauer had hosted "Today" since 1997 and been with NBC News for 25 years.